Ocean Cargo Insurance

What is Ocean Cargo Insurance?

Ocean cargo insurance is a specialty type of insurance we provide. Goods in transit need to be insured from an inland point of origin to a final inland destination and all points along the way. Most of the time, this is accomplished with one policy so there is no question as to which policy is in force at any given time. The coverage can be provided on an individual basis as each shipment is made or under a Marine Open Cargo policy. Insurance can be purchased by the buyer, seller, consignee or freight forwarder. Transit insurance is from warehouse to warehouse, or as required by the terms of sale, or by a specific country’s insurance requirements. Ocean cargo insurance coverage can be extended for domestic and overseas inland transit, warehouse storage, exhibition and installations. We also provide shippers’ interest and legal liability coverage for freight forwarders, logistics providers and Non-Vessel Operating Common Carriers (NVOCC). Companion War policies are offered. Strikes, riots and civil commotions, as well as Terrorism Risk Insurance Act (TRIA) coverages, are also available.

Do You:

Sell goods over the Internet?

Import or export raw materials or finished products?

Manufacture or sell finished goods overseas?

Store products in an overseas warehouse?

Participate in overseas exhibitions?

If your answer is yes, you probably have a Cargo exposure and need ocean cargo insurance.

Our ocean cargo insurance policy provides coverage for all legal shipments traveling around the world. We prefer to have knowledge of the assured’s primary areas of trade and rates are generally based on those trade areas. Furthermore, U.S. laws or restrictive insurance legislation of another country may affect whether or not coverage may be provided.

Limits of Liability

The limits of liability for a Cargo policy are determined on a per conveyance basis; for example, $500,000 per vessel or per aircraft and connecting conveyances. Because of the increased risk of shipping goods directly on deck of a vessel, a sub-limit may apply to cargo shipped on deck and may be subject to an on-deck bill of lading. Containerized shipments are considered under deck because they are shipped subject to an under deck or optional bill of lading that requires more responsibility by the carrier and permits more subrogation by the insurance company. Premium is not usually based on the limit but rather on the actual values shipped.

Common Misconceptions About Cargo Insurance

I use a freight forwarder so I’m already covered.
The freight forwarder’s policy is geared to many different commodities and many different customers, providing non-tailored coverage usually at a much higher cost.

Nothing could ever happen to my goods.
Your goods may be less susceptible to loss than others but they still have the risk of catastrophic loss and loss due to “General Average,” which is a sharing of a loss that occurs to the hull or other’s cargo. If a General Average is declared and you do not have insurance, you will be required to post a cash bond before receiving your goods.

I’m not big enough.
Accessible Marine Insurance has reasonable minimum premiums for Open Cargo policies and the availability of insuring just the occasional shipment.

The carriers are insured so I don’t need coverage.
Carriers are usually only responsible for loss or damage due to their negligence. In addition, law or tariff restrictions limit the liability of most carriers.

My buyer or supplier buys the insurance.
Foreign insuring conditions can vary widely from U.S. policies. Importers know exactly what they get when they buy insurance locally. Further, the cost of insurance purchased overseas is often hidden with other charges. What are you are really paying?

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Accessible Marine Insurance

Dirk Rosen

Our coverages are critical - and I really appreciate all the planning you do to keep us ahead of the curve.

Dirk Rosen

2016-09-27T16:27:46+00:00

Dirk Rosen

Our coverages are critical - and I really appreciate all the planning you do to keep us ahead of the curve.

http://ami-ins.com/testimonials/dirk-rosen/

Terance

Fisk Insurance is # 1 ... I will never shop, no need when you find the best.

Terance

2016-09-27T16:39:58+00:00

Terance

Fisk Insurance is # 1 ... I will never shop, no need when you find the best.

http://ami-ins.com/testimonials/terance/

Cher

I feel like you really had our back by quickly asking for a re-audit and helping to troubleshoot the issue. Thank you very much and proud to be affiliated with Fisk Insurance.

Cher

2016-09-27T16:39:12+00:00

Cher

I feel like you really had our back by quickly asking for a re-audit and helping to troubleshoot the issue. Thank you very much and proud to be affiliated with Fisk Insurance.

http://ami-ins.com/testimonials/cher/

Greg Kurras

I appreciate the organization and responsiveness of yourself and your staff. I am glad to be doing business with you.

Greg Kurras

2016-09-27T16:38:28+00:00

Greg Kurras

I appreciate the organization and responsiveness of yourself and your staff. I am glad to be doing business with you.

http://ami-ins.com/testimonials/greg-kurras/

Joyce & Dan

We truly appreciate you stepping in when we were at a loss.

Joyce & Dan

2016-09-27T16:37:37+00:00

Joyce & Dan

We truly appreciate you stepping in when we were at a loss.

http://ami-ins.com/testimonials/joyce-dan/

Pam Borton

Gail, now that is what I call service. That's why we like Fisk Insurance.

Pam Borton

2016-09-27T16:36:35+00:00

Pam Borton

Gail, now that is what I call service. That's why we like Fisk Insurance.

http://ami-ins.com/testimonials/pam-borton/

Cynthia Zeller

Just wanted to let you know how much we appreciate your help tonight Eric. So sorry for having to pull you away from your family on such a short notice. Our job was able to go out at midnight, thanks to you.

Cynthia Zeller

2016-09-27T16:35:52+00:00

Cynthia Zeller

Just wanted to let you know how much we appreciate your help tonight Eric. So sorry for having to pull you away from your family on such a short notice. Our job was able to go out at midnight, thanks to you.

http://ami-ins.com/testimonials/cynthia-zeller/

Morgan Levally

Tina, you rock!

Morgan Levally

2016-09-27T16:34:44+00:00

Morgan Levally

Tina, you rock!

http://ami-ins.com/testimonials/morgan-levally/

Stacey Brown

As always, it’s a pleasure doing business with Fisk Insurance!

Stacey Brown

2016-09-27T16:28:33+00:00

Stacey Brown

As always, it’s a pleasure doing business with Fisk Insurance!

http://ami-ins.com/testimonials/stacey-brown/

Cher

This company has the best customer service of any business I have experience. Gail and Eric have been very responsive and proactive with all my needs and questions.

2017-05-08T10:16:25+00:00

This company has the best customer service of any business I have experience. Gail and Eric have been very responsive and proactive with all my needs and questions.